Arm Acquires Minority Stake in Raspberry Pi, Intel's Q3 Earnings Beat Expectations, Nvidia and AMD Work on Arm-based PC Chips, Kokusai Electric Trims IPO Pricing, Arm Holdings' IPO Raises $4.87 Billion

Arm Holdings plc has acquired a minority stake in Raspberry Pi Ltd, extending its long-term partnership and committing to the development of high-performance IoT devices. Intel's Q3 earnings beat expectations, with CEO Pat Gelsinger downplaying the threat of Arm encroaching on Intel's PC ecosystem. Nvidia and AMD are reportedly working on Arm-based PC chips, which could potentially disrupt Intel's market share. Kokusai Electric has trimmed the indicative pricing for its IPO, reflecting the lackluster performance of chip designer Arm since its listing. Arm Holdings' IPO has raised $4.87 billion, making it the largest IPO on the US exchange since November 2021, but analyst ratings are cautious.